India’s aviation sector is growing rapidly, driven by strong GDP growth, a budding middle class, and progressive liberalization. To capitalize on this growth, the government has introduced reforms, including the development of Gujarat International Finance Tec-City (GIFT City), which offers tax incentives, regulatory advantages, and a favorable framework for aircraft leasing and financing. Recent legislative reforms, such as the Protection of Interests in Aircraft Objects Act, 2025, and the Bharatiya Vayuyan Adhiniyam, 2024, aim to provide legal certainty and align India’s aviation law with international norms. These developments position GIFT City as a credible alternative to established global leasing hubs, supporting India’s ambition to become a significant player in the global aviation finance market and contributing to the country’s Atmanirbhar Bharat vision.
The article was authored by Nand Gopal Anand, Partner, published in Mondaq.
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Nand is a Partner in the Gurugram office of the firm. He specialises in Banking & Finance, with specific focus on general lending, external commercial borrowings, overseas direct investments, project finance, trade finance, shipping finance and real estate finance related transactions.